From Yahoo Finance: 2025-05-12 10:21:00

Tapestry, the parent company of Coach and Kate Spade, saw a 7% rise in net sales to $1.58bn in Q3 FY25, with constant currency growth of 8% compared to the previous fiscal year. Key growth drivers included a 15% surge in Coach brand revenue and a 9% increase in direct-to-consumer sales.

Operating income for Tapestry in Q3 FY25 was $254m with a 16.0% operating margin, up from $204m and a 13.8% margin in Q3 FY24. Net income also increased to $203m, resulting in diluted earnings per share of $0.95. Selling, general, and administrative expenses accounted for 60.1% of sales on a GAAP basis.

Gross profit for Tapestry in Q3 FY25 was $1.21bn with a gross margin of 76.1%, up from $1.11bn and 74.7% in the prior year. The company revised its FY25 outlook, expecting revenues of approximately $6.95bn, a 4% increase from the previous year despite currency headwinds. Operating margin expansion and diluted earnings per share growth are also projected.

Tapestry CEO Joanne Crevoiserat highlighted the company’s strong performance in Q3, emphasizing brand building and consumer connections. The company remains confident in its future growth prospects and ability to adapt to changing environments. Tapestry recently sold its luxury footwear brand, Stuart Weitzman, to Caleres for $105m in cash.



Read more at Yahoo Finance: Tapestry raises FY25 outlook as Q3 sales surge 7%